Electronics Contract Manufacturing 2020 Global Market – Share, Segmentation, Applications, Technology and Forecast to 2026April 9, 2021
Electronics Contract Manufacturing Market 2020
Electronics contract manufacturing refers to the concept of outsourcing of specific processes by the original equipment manufacturers. The service providers of the electronics manufacturing designs, tests, manufactures, distributes, and also provides repair services for the original equipment manufacturers.
The electronic contract manufacturers also provide assemblies services and some electronic components too. The global electronic contract manufacturing market is anticipated to witness growth by a significant CAGR during the forecast period.
The growth of the global market of electronics contract manufacturing is mainly influenced by the growing trend of outsourcing engineering and design services due to the rise in skilled labor. The increase in demand in the electronics sector among the consumers further fuels the global market growth. The increase in the use of mobile devices like smartphones and tablets also accounts for the growth of the electronics contract manufacturing market. The growing demand for low-cost services also propels the market growth.
The growing concern related to the quality of electronic products is a potential factor that limits the growth of the global market. The loss of intellectual property is another barrier that restricts market growth.
The global market of electronics contract manufacturing is segmented based on tier, process type, application, and region.
Based on the tier, the global market is divided into Tier 1, Tier 2, Tier 3, and Tier 4.
Based on the process type, the global market of electronics contract manufacturing is subdivided into electronics design and engineering, test engineering, electronics assembly and manufacturing, and others. The market segment of electronics design and engineering is expected to witness significant growth during the forecast period.
Depending on the application, the global market is fragmented into consumer electronics, industrial, aerospace and defense, power and energy, IT and telecommunication, automotive, medical and healthcare, and other applications. The IT and telecommunication sector is expected to acquire a significant share in the global market during the forecast period.
Based on the geographical regions, the global market is segmented into the Asia Pacific region, North America region, South America region, Europe region, and the Middle East and Africa region. The Asia Pacific region is the market leader across the globe owing to the presence of key players in Taiwan and China. The markets of Europe and North America also hold significant shares in the global market.
The key players of the global market of electronics contract manufacturing are Advance Circuit Technology, DataED, Flex, Jabil, Express Manufacturing, IEC Electronics, Benchmark Electronics, EIT, Celestica, and Elite Electronic Systems. Other significant players in the market are Libra Industries, Riverside Electronics, Altron, Sumitronics, LogiCan, SMS Electronics, MTI Electronics, Creation Technologies, Enercon Technologies, First Electronics, Zollner Elektronik, and Sypris Electronics.
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The collaborations and partnerships among the key players will lead to the growth of the market in the coming years.
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